CABLE NEWS.

Grey River Argus, 5 November 1907, Page 3

CABLE NEWS.

» - .. Per Press Association— "By Electri Telegraph— Copyright *

AMERICAN MONEY MARKET.

OUTLOOK NOT IMPROVED ißecd. 4th, 1 1. 16 p.m.) LONDON., Nov. 4. The Times 'says the money mark-ei outlook in the United States has noi improved. The .acute stringency has now established a premium on currency and at the same time there has been a sensational rise in the rate oi exchange on London, wjii«h is showu by the report that cable transfers have been dealt in at 490 cents per pound sterling. This, however, is regarded with, satisfaction in .London since it indicates the diminished power of the United States to isslwe. drafts on London; but it would be more fitting to regard it as a strifci-' ing symptom of the weakness of the American position and the severe pressure to obtain remittances. ;